Thousands of retirees can get a Social Security check today for up to $4,873 of their monthly United States retirement payment. This type of payment has certain restrictions, and that is that not all Americans can afford such a large check.
Even so, regardless of the type of check we have or the amount, we can still collect this payment from Social Security. Therefore, we must take into account everything related to our retirement. Both the year of retirement and the day of birth are important in determining the day of collection.
Who collects the $4,873 Social Security payment today?
Social Security collection day can be on four different dates during the month. The Administration sends out Disability and other retirement benefit payments on up to four different days, and on each of these four days a different group gets paid.
So in order to collect today’s payment we have to belong to group one. This group always gets the payment on the 3rd day of the month, with some exceptions. But the truth is that it is rare to see exceptions that change the day of payment of this benefit.
And to belong to group 1 of retirees we will need to meet only one requirement. That requirement is to have a benefit accepted prior to May 1997. If your check is prior to that date, payment will be sent today, April 1st. Whether or not you get it today will depend on the collection method you choose.
What is the fastest collection method for Social Security?
When it comes to getting a monthly Social Security check, we have two options. The first is by bank deposit. The second is through Direct Deposit. One is clearly faster than the other.
Despite what many Americans think, it is no longer possible to collect retirement through a physical check. All Social Security payments go to the beneficiaries’ bank accounts, either through wire transfer or Direct Deposit.
If we choose Direct Deposit, the money will appear immediately in our checking account. Otherwise, we will have to wait a few days until the benefit money is available to use for what we need.